Human Geography
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| Gross national product (GNP) | measure of the total value of the officially recorded goods and services produced by residents of a country in a given year.
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| Gross Domestic Product (GDP) | includes only goods and services produced within a country during a given year.
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| Gross national income (GNI) | calculation of the monetary value of what is produced within a country, plus income received from investments outside the country, minus income payments to other countries around the world.
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| Per capital GNI | The Gross National Income (GNI) of a given country divided by its population.
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| Formal economy | the legal economy that governments tax and monitor.
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| Informal economy | Portion of the economy that is not taxed or regulated by government. Goods and services are exchanged based on barter or cash systems, and earnings are not reported to government.
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| Digital divide | Growing gap in access to Internet and communication technologies between connected and remote places.
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| Dependency ratio | measures the proportion of dependents in the population relative to every 100 people of working age.
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| Sustainable Development Goals | Agenda agreed to by member countries of the United Nations to improve peoples’ lives across several human conditions, including education, environment, political liberty, poverty, and inequality.
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| Modernization model | Theory that countries follow the same path along stages of development. Developed by economist Walter Rostow.
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| Context | The physical and human geographies creating the place, environment, and space in which events occur and people act.
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| Neocolonialism | the continuing ability of former colonial powers to control the economies of the lower income independent countries.
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| Structuralist Theory | holds that difficult-to-change, large-scale economic arrangements shape what is possible for a country’s development in fundamental ways.
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| Dependency Theory | holds that the political and economic relationships between countries and regions of the world control and limit the economic development possibilities of lower income areas.
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| Dollarization | The process of adopting the U.S. dollar as a country’s currency
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| World Systems Theory | Theory originated by Immanuel Wallerstein and illuminated by his three-tier structure, proposing that social change in and economic wealth in the periphery is inextricably linked to the core.
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| Three tier structure | Division of the world economy into the core, periphery, and semiperiphery according to Immanuel Wallerstein’s world-systems theory.
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| Core | Places in the world economy where core processes dominate.
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| Periphery | Places in the world economy where periphery processes dominate.
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| Semi-periphery | places where core and periphery processes are both occurring.
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| Commodity chain | Steps in the production of a good from its design and raw materials to its production, marketing, and distribution.
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| Break of bulk point | where goods traded on one mode of transport, camel, were transported to another mode of transport, boat.
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| Structural adjustment loans | A set of requirements to open markets, privatize industries, and allow foreign direct investment in developing countries in exchange for loans from international financial institutions.
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| Washington Consensus | Agreement among international financial institutions that policies opening markets in lower income countries would lead to economic development.
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| Neoliberalism | a variant of the neoclassical economic idea that government intervention into markets is both inefficient and undesirable.
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| Trafficking | A form of forced migration in which organized criminal elements move people illegally from one place to another, typically either to work as involuntary laborers or to participate in the commercial sex trade.
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| Maquiladora | Foreign-owned factories in Mexico where low-wage workers assemble imported components and raw materials into finished products for export.
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| Desertification | Spread of desert like conditions to semiarid lands due to overuse or misuse of land and water resources.
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| Islands of development | When a government or corporation builds up and concentrates economic development in a certain city or small region
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| Non-governmental organizations (NGO) | Privately funded institutions that aid in development and relief work.
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| Microcredit programs | Practice of giving small loans to individuals, who operate within a community of other borrowers, to start businesses and cottage enterprises.
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